“If the U.S. deficit is $17 trillion, then we will simply mint eighteen one trillion dollar coins. Once we have minted those coins, the U.S. deficit will be gone and we will have a trillion dollar surplus. Abracadabra, hocus pocus, and that will be that — we can then get back to spending more money we conjure up from thin air,” Timothy Franz Geithner, the U.S. Secretary of the Treasury told reporters at the Federal Reserve on Wednesday.
Some bankers are even suggesting minting one $25 trillion coin.
“It would only be as big as a penny but it would be worth a heck of a lot more. It would weigh approximately 43 grams and one thing’s for sure, you do not want to lose that thing behind the sofa or try to cash it,” another U.S. Treasury worker revealed.
